Safaricom: FY 21 results – EPS misses, but M-PESA surpasses expectations

  • Safaricom's FY 21 EPS fell by 6% due to the impact of zero-rated fees on M-PESA revenue, but H2 showed signs of recovery

  • Safaricom is helping Kenya digitise rapidly through innovation and financing

  • Safaricom is set to return to growth by FY 22, driven by data, M-PESA and fixed services, reiterate Hold
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